Noel Tata Succeeds Ratan Tata as Chairman of Tata Trust
First Published: 11th October, 2024 15:03 IST
Tata Trust is the umbrella body that manages functions of all 14 Tata trusts.
Noel Tata, the half-brother of Ratan Tata, has been appointed chairman of Tata Trust. The decision was taken today at the board meeting held in Mumbai after the death of Ratan Tata on October 9 night at the age of 86.
Noel Tata is the vice chairman of Tata Steel and watch company Titan. His mother Simone Tata, a French-Swiss Catholic who is Ratan Tata’s stepmother, is currently chairman of Trent, Voltas, Tata Investment Corporation, and Tata International.
Noel Tata has been a key figure in Tata Group’s growth since he joined in the early 2000s. He was appointed Chairman of Tata Trust today following a meeting of the Sir Ratan Tata Trust and the Dorabji Tata Trust, an NDTV report said.
Tata Trust is the umbrella body that manages functions of all 14 Tata trusts.
The ownership of Tata Sons is largely held by two key trusts – the Sir Dorabji Tata Trust, and the Sir Ratan Tata Trust, which together comprise over 50 per cent of the ownership.
Tata Trust at present has Venu Srinivasan, Vijay Singh, and Mehli Mistry as executive committee members.
Ratan Tata’s younger brother, Jimmy, is not involved in the family business and lives in a modest two-bedroom apartment in south Mumbai’s Colaba, the report said.
Born in a traditional Parsi family in 1937, Ratan Tata was brought up by his grandmother after his parents, Naval and Sooni Tata, divorced when he was 10.
Tata Trusts, which holds a controlling 66% stake in Tata Sons, the holding company of the sprawling Tata Group, plays a crucial role in the group’s governance. Ratan Tata, who led Tata Trusts and the Tata Group for many years, did not have children and had not named a successor for his position at the Trusts. As a result, the board convened to decide on the next leader, an India Today report said.
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